$WEN Moon?? Institutions own 114% of Total Shares, and Tendie Offer Coming?
How has Wendy’s not been a bigger meme stock? It’s got the perfect ticker ($WEN) and everyone’s always talking about eating behind the Wendy’s dumpster.
You’re supposed to buy low and sell high right? Wendy’s is barely above the COVID crash lows of 2020. 13F’s today show 114% of shares outstanding owned by institutions - so that’s 27M shares MM’s, PB’s, Brokers collectively don’t have. And 46M shares in SI.
Borrow costs are already ripping (over 10% this week and closed over 8% today) as shares are becoming scarce even on the lending market.
And there’s rumblings that the largest individual holder, Nelson Peltz from Trian AM is courting overseas money to take it private. What happens when there’s a tender offer for well above current prices and no one’s selling? And there’s 73M shares that need to be bought by institutions / SI?
MOON
Modest YOLO attached